FMDQ Securities Exchange Limited supported Dangote Cement’s N100 billion commercial paper (CP) on its platform. This was revealed in a statement released by the exchange and viewed by Nairametrics on Tuesday.
The statement explains that FMDQ has approved and accepted the Dangote Cement N34 billion series 15 and N66 billion series 16 commercial paper (CP) on its platform. The CP notes were part of the national Dangote Cement 150 billion CP issuance program.
FMDQ explained that the issue of Dangote Cement CP and subsequent quotes were the largest issued by a non-financial institution in Nigeria on its platform.
He said: “The development was another testament to the efficient listing and listing service offered by the FMDQ exchange. The exchange would continue to position the Nigerian capital market to support companies and businesses seeking to raise capital to finance their financing needs.
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“FMDQ Holdings Plc, through its subsidiary, FMDQ Exchange, has continued to provide the required support to governments, companies and individuals by offering innovative and reliable solutions for the capital market.”
What it means: Dangote Cement CPs will have global visibility through the website and the FMDQ exchange systems.
The CPs would be included in the list of FMDQ daily quotations, to guarantee and maintain the transparency of the information.
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“Through the compliance functionality of FMDQ’s quotes and quotes, investors are guaranteed the continuous disclosure of the issuer’s obligations to allow this important category of market stakeholders to make informed decisions.
“Investors also receive a secure securities deposit for the presentation of their assets through FMDQ Depository Limited, ensuring an efficient and smooth flow of transactions from start to finish in FMDQ,” he added.
FMDQ Group Information: The first vertically integrated financial market infrastructure group in Africa, offering a single platform for smooth and economic execution, risk management, clearing, settlement and deposit services, as well as Data and information on the Nigerian debt, foreign exchange and derivatives market.